Rashi Peripherals Limited has informed the Exchange about order passed by Department of GST (Maharashtra) in appeal against demand related to year 2017-18.
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Awaiting price reaction for this filing.
Rashi Peripherals has informed the stock exchange that the Maharashtra GST Department has passed an order in an appeal related to a tax demand for the financial year 2017-18. The company had apparently received a tax demand originally and went into appeal. The specific outcome of the appeal order (favourable or unfavourable to the company) and the exact demand amount are not mentioned in this brief filing. Shareholders would need to watch for further clarification from the company on whether the demand has been upheld, reduced, or set aside.
Resolution of old tax disputes can remove a hanging liability, but if the demand is upheld the company may need to pay additional tax along with interest and penalties. Short-term share price reaction is likely limited unless the amount involved is material.